KOTA KINABALU, Nov 17 (Bernama) -- The Gabungan Rakyat Sabah (GRS) coalition will establish a Sabah Sovereign Wealth Fund next year if it is given a fresh mandate in the 17th Sabah State Election.
GRS deputy secretary-general Datuk Armizan Mohd Ali said the initiative, named the Investment Fund for Sabah Children’s Future, is a long-term strategy by the party to ensure that Sabah has a more stable and sustainable source of revenue, instead of relying solely on tax income and volatile commodity resources.
He said the fund will serve as a strategic investment instrument that will only be used after a certain period for state development purposes.
“We will take a small portion of the state reserves as the initial capital for the Sabah Sovereign Wealth Fund, and the annual additional capital will come from the 40 per cent revenue entitlement.
“Part of the annual 40 per cent entitlement, the special grant, will be channelled into the Sabah Sovereign Wealth Fund,” he said when presenting the GRS manifesto at the Sabah International Convention Centre today.
Explaining further, Armizan said the fund’s governance would involve a combination of state government representatives and professionals in finance, investment and legal fields to set policies and investment strategies that provide sustainable returns for Sabah.
“We want those experts to advise the state government on managing the Sabah Sovereign Wealth Fund… to evaluate what constitutes a strategic investment, whether to invest in the stock market, domestic strategic investments or overseas,” he said.
GRS is also confident that the fund’s establishment will lead Sabah towards a more stable income, reducing dependence on the federal government in the future, particularly in addressing basic infrastructure issues.
“We want our future generations who govern this state not just to see their income rise, but also to benefit from the returns invested by today’s generation of leaders to build their future,” he said.
He said the establishment of the fund is one of the key components of the GRS manifesto and will be incorporated into the Sabah Maju Jaya (SMJ) 2.0 Roadmap for the period 2026 to 2030.
Polling has been set for Nov 29 and early voting for Nov 25.
For the latest news on the 17th Sabah State Election, please visit https://prn.bernama.com/sabah/index.php
-- BERNAMA
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